The report is titled ‘Prurigo Nodularis Treatment Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the prurigo nodularis treatment market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. Prurigo nodularis treatment market is expected to grow at a significant rate in the near future.
The global prurigo nodularis treatment market in 2020 is estimated for more than US$ 1.2 Bn and expected to reach a value of US$ 1.6 Bn by 2028 with a significant CAGR of 3.5%.
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Prurigo Nodularis Treatment Market Dynamics
The global prurigo nodularis treatment market is estimated to have a steady growth during the forecast period, accounting for the robust demand for prominent orphan drugs that are capable to treat such rare diseases, the existence of numerous ongoing research and development activities in the healthcare sector, promising product pipeline, and the elevating healthcare expenditure.
Furthermore, the occurrence of this rare disease and the mounting need for better treatment of patients suffering from prurigo nodularis is also expected to favor the growth of this market.
In addition, the initiative that was taken by the regional governments, numerous non-government organizations for aiding sufficient funding to support the R & D activities are also boosting the demand for prurigo nodularis treatment.
Other socio-economic factors such as an increasing number of rare diseases and requirements for better treatment for Prurigo Nodularis also aid market growth. However, the growth of the global prurigo nodularis treatment market is hampered by the factors accounting to the shortage of expert healthcare professionals across the globe.
Accessibility to alternative treatment options, lack of regulatory framework in emerging economies, and the expensive treatment cost. on the other hand, the collaborative funding for transitional projects is expected to create opportunities for the growth of the global market. For instance, Phototherapy is used for treating numerous inflammatory skin conditions and is also considered a therapeutic alternative for patients suffering from multiple comorbidities or generalized prurigo nodularis.
Prurigo Nodularis Treatment Market Pipeline Drugs Overview
The global prurigo nodularis treatment market also witnessed growth owing to the availability of drugs in the product pipeline. These drugs account for the KPL-716, under the manufacturing of Kiniksa Pharmaceuticals, Ltd., which is in Phase 2 and is expected to launch by October 2020.
Another drug named Nalbuphine ER Tablets, produced under Trevi Therapeutics, is also expected to cure Prurigo Nodularis. This drug is in Phase 2 with its expected official launch in March 2021. Last but not the least, Menlo Therapeutics Inc. is also preparing to launch a drug named 5mg Serlopitant Tablets for the treatment of Pruritis. This drug is in its Phase 3 and is expected to be launch in the market by March 2020.
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Prurigo Nodularis Treatment Market Segmentation
The global prurigo nodularis treatment market is segmented on the basis of product, distribution channel, and by region.
By Product:
- Antihistamines
- Capsaicin Cream
- Corticosteroids
- Emollients
- Others
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Prurigo Nodularis Treatment Market Competitive Landscape
Key players operating in the global prurigo nodularis treatment market include Bayer AG, GlaxoSmithKline plc, Johnson & Johnson Services Inc., Merck & Co. Inc., Pfizer Inc., Sanofi SA, Takeda Pharmaceutical Company Limited, and Teva Pharmaceutical Industries Ltd.
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